Question 1 [15 points] XYZ Corporation runs tour buses through the Rocky Mountains. They purchased a luxury tour bus on November 3, 2014 for cash of $81,500. Its estimated useful life was 5 years or 10,000 hours with a residual value of $15,000. The company's year end is December 31. Assume actual hours of service were: 2014: 1,300 2015: 2,700 2016: 2,100 Calculate depreciation expense for the first three years of the asset's useful life by completing the following table using the different depreciation methods. Calculate the depreciation to the nearest whole month, and round depreciation amounts to the nearest whole dollar. For simplicity, assume that the buses are depreciated as one unit and will not be broken down into parts and depreciated. Year Straight-line method Double-declining balance method Units of production method 2014 2015 2016